Gold futures rose in the domestic market on Wednesday as investors and speculators bookedfresh positions in the precious metal amid a pickup in physical demand for gold in the domesticspot market. Meanwhile, China’s gold imports from Hong Kong rose for the third straightmonth in October, signaling a pickup in bullion demand in the world’s biggest gold consumer.All eyes are on a string of US economic data including jobless claims, consumer spending, newhome sales and durable goods orders to be released today which may offer further cues over thehealth of the world’s biggest economy and determine US Fed rate outlook. Gold futures forDecember 2014 contract, at MCX, is trading at Rs. 26,372 per 10 grams, up by 0.17 per cent,after opening at Rs. 26,363, against the previous closing price of Rs 26,326. It touched an intra-day high of Rs 26,417. (At 11:28 AM).

Base Metals

D A I L Y B U Z Z

COPPER

Copper futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the base metal amid a pickup in physical demand for copper in the domestic spot market. Sentiment was also boosted after the US economy grew at a faster than initially estimated pace in the third quarter, lifting the demand outlook for industrial metals. US Q3 GDP growth was upwardly revised from 3.5 per cent to 3.9 per cent. At the MCX, copper futures for November 2014 contract is trading at Rs. 405 per 1 kg, up by 0.26 per cent, after opening at Rs. 404.60, against the previous closing price of Rs. 403.95. It touched an intra-day high of Rs. 405.85. (At 11:30 AM).